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Are solar panels worth the cost for homes?

The electricity bill has not stopped rising in recent months and, therefore, many people consider the use of renewable energy in the home. The most popular is the installation of solar panels or panels on the roof or garden.

In this post we review the cost of solar Tucson installation and what we can save over time.

How much can be saved?

In order to calculate the savings and the number of panels that we would need to install, it is important to know in detail our daily consumption. Having solar panels helps us depend less on the network and save on the electricity bill. With less bureaucratic obstacles, with increasingly attractive prices on solar panels and with the announcement of subsidies by different institutions, solar energy becomes an opportunity.

Is it worth renting solar panels for the home?

There are two ways to put solar panels: rent (lease) or purchase. We will examine the options on panel rental and see all its pros and cons.

Leasing Advantages

While the lease will not allow you to maximize energy savings when you switch to solar energy (for that, you will have to buy your panels), you can still significantly reduce your monthly energy costs.

  • Numerous financing options: With a solar lease option, you only compensate the leasing corporation for the solar gear; you can make use of as much power as you desire.
  • Maintenance and repairs: Since you are not the owner of the panels, you do not have to fix them when they break! The leasing company will be responsible for the maintenance and repair of all solar panels.
  • Lower energy costs: If you live in a state where solar energy is at least as cheap as the power grid, you are likely to enjoy the same or lower monthly energy cost even if you are renting a system from someone else.

In short, there is a lot to like about renting solar panels on the rooftops. When small and nonexistent start-up costs are joint with immediate solar energy savings, it is simple to see why so many people go to energy.

Leasing Cons

Although the lease may be ideal for some buyers, it is not suitable for everyone. As an occupant, you will have to put to rights the reimbursement of the lease with:

  • No tax benefits: having your own panels more often than not meet the criteria you for various taxes praise and discounts. If you rent for your solar system, the hire company gets those reimbursements – not you.
  • Lack of ownership: Panels are not yours own, they be in the right place to another person. For a lot of homeowners, not having control over the kit that lives at the top of their houses is just not good-looking.

In most cases, these disadvantages should not deter you from switching to solar energy. You will probably save on the current monthly electricity bill and you can always buy the panels later if you wish.

Hidden costs of financial leasing

As with most home improvement efforts, leasing solar panels is not free of dark or unexpected costs. Although things seem simple and you like what you are hearing from the financial leasing company, consider the following possibilities and mitigate them with due diligence.

Insurance premiums: Depending on your homeowner’s insurance policy, installing solar panels on your roof could leave you with a higher premium. In the same way, solar panels could reduce your premium, but you should talk to your insurance provider before committing to a lease.